Exploring All Possible Options to Increase the Financing and Accessibility of Mortgage Loans

Minister for Family, Labour and Social Protection, L. Enkh-Amgalan, met with Shen Minjuan, the Ambassador of the People’s Republic of China to Mongolia.

The Mongolian Government has passed the National Wealth Fund Law and set a policy to provide housing for citizens, planning to build 150,000 apartments over the next four years.

The target groups for the housing policy include young families purchasing their first homes, families with members who have disabilities, and civil servants relocating from the capital to rural areas. These groups will be included in the program for affordable housing based on their income.

To achieve these goals, the government plans to increase financing and accessibility for mortgage loans using all available resources, including the savings fund, the state budget, and grants from international organizations.

The Minister also expressed interest in studying the possibility of cooperating with the mining sector to align the construction of affordable, high-quality housing with the export of mining products.

Collaboration with the Ministry of Construction, Urban Development, and the Capital City Administration is planned to create a unified housing development plan that aligns with urban planning. This plan will be presented to the Ambassador.

In addition, a rehabilitation center for children with disabilities has been constructed with a grant from China. Discussions were held on potential collaboration to enhance the capacity of specialized doctors and nurses in rehabilitation and physical therapy.